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Accounting
31-Dec-22 2022 2021 Account Name Debit Credit Debit Credit Cash Accounts Receivable Supplies Inventory Prepaid Expenses 52,000 32,000 101,000 98,000 12,200 42,300 24,000 2,500 65,500 12,300 309,700 385,000 Land Building Accumulated Depreciation-Building Accounts Payable 309,700 385,000 76,300 42,100 58,600 38,900

31-Dec-22 2022 2021 Account Name Debit Credit Debit Credit Cash Accounts Receivable Supplies Inventory Prepaid Expenses 52,000 32,000 101,000 98,000 12,200 42,300 24,000 2,500 65,500 12,300 309,700 385,000 Land Building Accumulated Depreciation-Building Accounts Payable 309,700 385,000 76,300 42,100 58,600 38,900

Survey of Accounting (Accounting I)
Survey of Accounting (Accounting I)
8th Edition
ISBN:9781305961883
Author:Carl Warren
Publisher:Carl Warren
Chapter7: Fixed Assets, Natural Resources, And Intangible Assets
Section: Chapter Questions
Problem 7.4MBA
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Net income for the year 2022
31-Dec-22 2022 2021 Account Name Debit Credit Debit Credit Cash 52,000 32,000 Accounts Receivable 101,000 98,000 Supplies 2,500 12,200 Inventory Prepaid Expenses 65,500 42,300 12,300 24,000 Land 309,700 309,700 385,000 Building Accumulated Depreciation-Building Accounts Payable Salaries Payable Income Taxes Payable Notes Payable Bonds Payable Common Stock 385,000 58,600 76,300 42,100 38,900 9,700 26,000 100,000 200,000 13,200 34,000 100,000 200,000 220,000 220,000 Retained Earnings Sales Revenue (Net) Cost of Goods Sold 67,000 49,000 956,000 1,050,650 360,000 456,950 Advertising Expense Depreciation Expense 67,900 70,000 17,700 17,700 Insurance Expense Rent Expense Salaries Expense 1,000 1,000 24,000 24,000 310,000 280,000 1,708,600 1,708,600 1,752,850 1,752,85
Transcribed Image Text:31-Dec-22 2022 2021 Account Name Debit Credit Debit Credit Cash 52,000 32,000 Accounts Receivable 101,000 98,000 Supplies 2,500 12,200 Inventory Prepaid Expenses 65,500 42,300 12,300 24,000 Land 309,700 309,700 385,000 Building Accumulated Depreciation-Building Accounts Payable Salaries Payable Income Taxes Payable Notes Payable Bonds Payable Common Stock 385,000 58,600 76,300 42,100 38,900 9,700 26,000 100,000 200,000 13,200 34,000 100,000 200,000 220,000 220,000 Retained Earnings Sales Revenue (Net) Cost of Goods Sold 67,000 49,000 956,000 1,050,650 360,000 456,950 Advertising Expense Depreciation Expense 67,900 70,000 17,700 17,700 Insurance Expense Rent Expense Salaries Expense 1,000 1,000 24,000 24,000 310,000 280,000 1,708,600 1,708,600 1,752,850 1,752,85
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